59 East St · Hartford, CT 06120

$479,500

8 bd · 3.0 ba · 3,480 sqft · MultiFamily public records · 16 Days on market

Built 1930 4,791 sqft lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Back On The Market!! Investors and owner occupants take notice!!! Newly rehabbed 3 family with a possible store front located in the heart of Hartford. Set back from a main road and walking distance to a park, this beautiful historical home boast 2 - 3 bedrooms units and 1 - 2 bedroom unit. This rehab is about 97% completed rebuilt from the studs. New windows, roof, furnaces, floors, cabinets etc....Double Lot!!!! Bring in your best offers! Easy to show.

Key facts

• Renovated
• Updated interiors
• Modern finishes

Tags

• RENOVATED
• UPDATED INTERIORS
• MODERN FINISHES
• VALUABLE OFF STREET PARKING
• DURABLE BRICK CONSTRUCTION
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Parking: Under-house garage (1 car)
• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Stone foundation; Built as multi-family (living area ~3480)
• Exterior features: City views; Brick siding; Asphalt shingle roof

Interior

• Bedrooms: 8 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating; Natural gas fuel
• Interior features: Full basement; 14 total rooms

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $480k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $820/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $480k).
• Recommended offer: $472k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#58 in CT, #3,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F, employment F.
• Hartford School District (urban): math 13% / reading 21% proficiency, ranked #150 of 153 in CT (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 21 active listings in the ZIP; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $6,942/mo this rent would consume 239% of the median local household income ($35k/yr) (locally 1435% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($3k loan paydown + $34k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $134k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($472k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $360k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $472,307 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.45% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.99%
• DSCR: 1.98
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 3.43×
• Total profit: $326,316
• Equity at exit: $335,925

10-year hold

• IRR: 32.3%
• Equity multiple: 7.17×
• Total profit: $828,326
• Equity at exit: $641,433

Cash invested: $134,260 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06120

• Home prices YoY: 2.4%
• Rents YoY: 2.8%
• Active inventory: 21
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $6,942 high
• Mortgage (P&I): −$2,515
• Tax from tax record: −$309 /mo · $3,712/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,458
• Net cashflow: $2,461

Break-even live

Break-even rent $3,827

Max offer price $479,500

Occupancy floor 60%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,942
Total (3 units)			$6,942

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $119,875
• Closing costs: $14,385
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   price $479,500 Active 16 DOM
2. 2026-06-18
   days on market $498,500 Active 16 DOM
3. 2026-06-17
   days on market $498,500 Active 15 DOM
4. 2026-06-16
   days on market $498,500 Active 14 DOM
5. 2026-06-15
   days on market $498,500 Active 13 DOM
6. 2026-06-13
   days on market $498,500 Active 11 DOM
7. 2026-06-13
   days on market $498,500 Active 10 DOM
8. 2026-06-10
   days on market $498,500 Active 8 DOM
9. 2026-06-09
   days on market $498,500 Active 7 DOM
10. 2026-06-08
    days on market $498,500 Active 6 DOM
11. 2026-06-07
    days on market $498,500 Active 5 DOM
12. 2026-06-05
    days on market $498,500 Active 2 DOM
13. 2026-06-03
    remarks 699-char remark
14. 2026-06-03
    listed $498,500 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $3,712 · $309/mo
• Projected year-2 tax: $6,987 · $582/mo
• Expected delta: +$3,275/yr (+$273/mo · 88.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,304
• − Mortgage interest: −$26,859
• − Property taxes: −$3,712
• − Insurance: −$2,398
• − Repairs & maintenance: −$6,664
• − Management: −$6,664
• − Depreciation: −$13,949
• Taxable income: $23,057
• Est. tax owed @ 24.0%: −$5,534
• After-tax cash flow: $23,992/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hartford School District
• NCES district ID: 0901920
• Math proficiency: 13% ▼ -5.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $30,521
• Composite: 13.54/100
• National rank: #9514
• State rank: #150 of 153 in CT

Livability — Hartford

• Score: 76/100
• State rank: #58
• US rank: #3553

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment F Housing B Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford, CT
• County: Hartford County · 754,208 people
• City population: 121,162
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 13,926
• Household income: $34,830
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1435.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 46% Black 46% Two or more races 21% White 3%
• Hispanic origin (detail): Puerto Rican 37% Dominican 1%
• Common ancestry: Estonian 1% Portuguese 1%
• Foreign-born: 14% · Canada
• Languages at home: 61% English-only · Spanish 36% Other Indo-European 1%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.12%
• Current HPI: 307.6427
• Rent YoY: ▲ 2.83%
• Metro: Hartford-East Hartford-Middletown, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+232.6% since first listed

20 events — show timeline

• 2026-06-02 Listed $498,500 Smart MLS
• 2024-02-24 Listing Removed — Smart MLS
• 2024-01-09 Relisted — Smart MLS
• 2024-01-08 Listing Removed — Smart MLS
• 2023-12-13 Listed $475,000 Smart MLS
• 2023-08-24 Sold (Public Records) $360,000 Public Records
• 2023-08-23 Pending — Smart MLS
• 2023-08-21 Sold (MLS) $355,000 Smart MLS
• 2023-07-20 Contingent — Smart MLS
• 2023-07-11 Relisted — Smart MLS
• 2023-07-04 Pending — Smart MLS
• 2023-06-17 Listed $349,999 Smart MLS
• 2019-03-15 Sold (MLS) $115,000 Smart MLS
• 2018-09-15 Listing Removed — Smart MLS
• 2018-07-17 Contingent — Smart MLS
• 2018-07-04 Listing Removed — Smart MLS
• 2018-07-03 Listed $134,900 Smart MLS
• 2018-06-22 Contingent — Smart MLS
• 2018-05-21 Price Changed $134,900 Smart MLS
• 2018-04-09 Listed $149,900 Smart MLS

Property tax history

-0.1%/yr

Latest (2025): $3,712 · +0.0% YoY. Source: county tax records.